Ecolab Inc. $ECL Stock Bought by M&G PLC

M&G PLC increased its holdings in Ecolab Inc. (NYSE:ECL) by 56.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,048 shares of the basic materials company’s stock after buying an additional 2,174 shares during the period. M&G PLC’s holdings in Ecolab were worth $1,663,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Ecolab during the second quarter worth approximately $6,422,340,000. Corient Private Wealth LP bought a new position in Ecolab during the 2nd quarter worth $244,381,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ecolab by 1.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,617,425 shares of the basic materials company’s stock worth $1,007,851,000 after acquiring an additional 51,712 shares during the period. Pictet Asset Management Holding SA raised its holdings in Ecolab by 8.3% in the 3rd quarter. Pictet Asset Management Holding SA now owns 2,708,147 shares of the basic materials company’s stock valued at $743,726,000 after acquiring an additional 206,562 shares in the last quarter. Finally, Amundi raised its holdings in Ecolab by 3.8% in the 1st quarter. Amundi now owns 2,412,057 shares of the basic materials company’s stock valued at $641,609,000 after acquiring an additional 88,096 shares in the last quarter. 74.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ECL shares. Citigroup upped their target price on Ecolab from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Mizuho raised their price target on Ecolab from $325.00 to $327.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Wells Fargo & Company boosted their price target on Ecolab from $295.00 to $315.00 and gave the company an “equal weight” rating in a research note on Thursday, October 29th. Weiss Ratings raised shares of Ecolab from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Finally, Robert W. Baird set a $305.00 price objective on shares of Ecolab and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Ecolab has an average rating of “Moderate Buy” and an average price target of $328.58.

Ecolab Stock Performance

Shares of NYSE:ECL opened at $307.51 on Thursday. The company’s 50 day simple moving average is $285.40 and its 200 day simple moving average is $277.31. The stock has a market capitalization of $86.25 billion, a price-to-earnings ratio of 41.84, a price-to-earnings-growth ratio of 2.98 and a beta of 0.85. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.11 and a quick ratio of 0.84. Ecolab Inc. has a 1 year low of $243.15 and a 1 year high of $318.93.

Ecolab (NYSE:ECL) last announced its quarterly earnings data on Tuesday, October 27th. The basic materials company reported $2.18 EPS for the quarter, meeting the consensus estimate of $2.18. Ecolab had a net margin of 11.99% and a return on equity of 22.57%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the business earned $2.07 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. As a group, research analysts predict that Ecolab Inc. will post 8.16 EPS for the current fiscal year.

Insider Activity

In other news, CEO Christophe Beck sold 17,862 shares of Ecolab stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $280.14, for a total value of $5,003,860.68. Following the transaction, the chief executive officer owned 72,932 shares in the company, valued at approximately $20,431,170.48. This trade represents a 19.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

Ecolab Profile

Ecolab Inc. provides water, hygiene, cleaning and infection-prevention products and services to businesses and institutions. Its solutions help customers manage water use, maintain sanitary environments and support operational efficiency. The company serves a range of industries, including food and beverage, foodservice, hospitality, healthcare, life sciences and manufacturing. Its offerings include cleaning and sanitizing products, water-treatment programs, pest-elimination services, and related monitoring and consulting support.